Global Industrial (NYSE:GIC) VP Thomas Axmacher Sells 1,848 Shares of Stock

Global Industrial Company (NYSE:GIC) VP Thomas Axmacher sold 1,848 shares of Global Industrial stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $38.60, for a total transaction of $71,332.80. Following the completion of the transaction, the vice president directly owned 7,366 shares of the company’s stock, valued at $284,327.60. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Industrial Trading Up 2.0%

Shares of NYSE GIC opened at $39.93 on Tuesday. Global Industrial Company has a 12-month low of $26.40 and a 12-month high of $40.26. The firm’s 50-day moving average price is $33.89 and its 200-day moving average price is $32.35. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.30 and a beta of 0.75.

Global Industrial (NYSE:GIC) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $377.40 million. Global Industrial had a return on equity of 21.49% and a net margin of 6.06%. On average, equities analysts predict that Global Industrial Company will post 1.88 EPS for the current fiscal year.

Global Industrial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, August 17th. Global Industrial’s dividend payout ratio (DPR) is 50.00%.

Wall Street Analyst Weigh In

GIC has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Global Industrial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded Global Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Investors Weigh In On Global Industrial

A number of large investors have recently made changes to their positions in GIC. AQR Capital Management LLC raised its stake in Global Industrial by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 61,993 shares of the company’s stock worth $1,389,000 after acquiring an additional 16,880 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Global Industrial by 66.3% in the first quarter. Goldman Sachs Group Inc. now owns 143,162 shares of the company’s stock valued at $3,207,000 after purchasing an additional 57,056 shares during the period. Jane Street Group LLC raised its stake in shares of Global Industrial by 16.4% in the first quarter. Jane Street Group LLC now owns 17,806 shares of the company’s stock worth $399,000 after purchasing an additional 2,512 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Global Industrial during the second quarter worth about $231,000. Finally, American Century Companies Inc. lifted its holdings in shares of Global Industrial by 7.8% during the second quarter. American Century Companies Inc. now owns 38,952 shares of the company’s stock worth $1,052,000 after purchasing an additional 2,804 shares during the period. 31.19% of the stock is owned by hedge funds and other institutional investors.

Global Industrial Company Profile

Global Industrial Company (NYSE: GIC) is a leading business-to-business distributor of industrial products and equipment. Headquartered in Port Washington, New York, the company provides a comprehensive range of products to support manufacturing, warehousing, and facility maintenance operations across North America. Through a digital-first platform, Global Industrial combines e-commerce, direct sales and catalog-based ordering channels to serve a diverse commercial customer base.

The company’s product portfolio encompasses material handling solutions (including conveyors, pallet racks and hoists), storage and shelving systems, janitorial and sanitation supplies, packaging and shipping materials, and office furniture.